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Bitcoin Association to Place Bitcoin Miner Block Rewards on Hold

The Bitcoin Association, a non-profit organization based in Switzerland that promotes the development of the Bitcoin SV blockchain, has announced that it will file criminal charges against a malicious miner.

It is also currently collaborating with exchanges to halt block rewards associated with the miner. According to the Bitcoin Association, a majority of miners on the network are producing empty blocks. For years, miners had been mining on the blockchain, but patterns of malicious activity began to emerge. The bad actor began mining empty blocks while increasing his hashrate share.

Honest miners and network businesses are suffering as a result of this nefarious activity. The dishonest miner is refusing to gather newly broadcast transactions to a node. It places more emphasis on producing empty blocks.

According to the organization, the miner is deliberately attacking the network to stop its commercial activity. It has made numerous unsuccessful attempts to get in touch with the miner.

After its announcement, the Bitcoin Association was mocked by a large portion of the community. The announcement included the threat of criminal charges, but considering the miner is anonymous and has not entered into a contract with anyone, this threat appears to have little teeth.

ETC Cooperation’s executive director, Bob Summerwill, asserts that because the miner is anonymous, the group’s threats of criminal charges are ineffective. They never entered into a contract with anyone, so it is unlikely that any legal action will be successful.

Image Credit: Shutterstock

 

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